Qualification shares, Business Law and Ethics

Assignment Help:

Qualification Shares:

S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.

Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).

2. S.186 : Age Limit

S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-

a) He has not attained the age of twenty-one; or

b) b) he has attained the age of seventy.


Related Discussions:- Qualification shares

Employment relations act, QUESTION 1 Evaluate the circumstances under w...

QUESTION 1 Evaluate the circumstances under which an employer would be justified in terminating his worker's contract of employment under the Employment Rights Act QUESTION

Describe the term banking, Question1 Describe the term banking and what ar...

Question1 Describe the term banking and what are the permitted businesses for a banking company as per BR Act 1949 Question2 When is a negotiable instrument considered as

Critically analyze the steps while dealing ethical dilemma, Question: a...

Question: a. An Ethical dilemma is a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgre

State the advantage of the information on the legislature, Advantage of the...

Advantage of the information on the legislature The main result was that voters take advantage of the information on the legislature - executive trade-offs in policy process. W

Exceptions - authority of partners, Exceptions - Authority of Partners ...

Exceptions - Authority of Partners The rule stated is a general rule, such there are a few exceptions for it.  Hence the chief of these exceptions are as follow: like; (a)

What are the international policies - policy process, What are the intern...

What are the international policies  -  Policy process In international policy, (politics) each state is part of a system and each is the guardian of its own security and indep

Case, Corgi was the breeder of prize-winning pedigree dogs that often sold ...

Corgi was the breeder of prize-winning pedigree dogs that often sold for very high prices. Reynolds, a wealthy businessman who had recently retired, decided to purchase one of thes

Forms of action, Forms of action: A minority of shareholders or an ind...

Forms of action: A minority of shareholders or an individual shareholder suing under one of the above exceptions may institute one of the following actions i) A personal ac

State article 2 of international law, State article 2 of International law ...

State article 2 of International law Article 2 states that there is no right of a State under international law to diplomatic relations; these exist by mutual consent. However

Country strategy in harmonising national, Country Strategy in harmonising n...

Country Strategy in harmonising national It is proposed that the OMC should enhance the role of such Country Strategy in harmonising national and EC aid programmes. The OMC wi

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd